(963) Manager: AML / CFT (Offsite) needed at South African Reserve Bank

Detailed description

The successful candidates will be responsible for, among other tasks, the following:

• To lead and manage an AML/CFT team responsible for conducting off-site supervision pertaining to compliance with the provisions of the FIC Act with regard to anti-money laundering (AML) and the combating of the financing of terrorism (CFT); and undertaking reviews to assess compliance with AML/CFT requirements and standards, with the application of a risk based approach; 
• To identify new and emerging ML/TF/PF risks, including those in jurisdictions where South African banks and insurers have operations, including the maintenance of the risk-based tool and ensuring that information is incorporated into the risk-based tool that will inform the frequency and duration of onsite inspections;
• To develop and maintain the risk-based supervisory manual and framework; 
• To compile the annual supervisory calendar taking into account work of the off site team which must be reflective of a risk based approach; which includes inspections as  well as other supervisory engagements; 
• To ensure that the AML/CFT risk returns are analysed timeously and that sector risk assessments are being conducted on a periodic basis for the banking and life  insurance sector; 
• To oversee the drafting of AML/CFT/CPF guidance for internal and external stakeholders to ensure effective implementation of a risk-based approach;
• To manage the provision of management information in respect of the progress of remedial action and research;
• To review and provide first level approval of the AML/CFT/CPF risk inputs of the team into the pre-inspection documentation;  
• To manage the development and maintenance of relevant procedures and processes for conducting inspections;
• To manage off-site monitoring activities performed by the team;
• To manage the performance and development of the AML/CFT off-site team
• To introduce innovation and drive the use of technology to inform risk-based supervision, collation of statistics, engagement with external stakeholders, creation of an    AML/CFT/CPF dashboard for analysis and reporting purposes; and
• To ensure that the first-class standard of AML/CFT best practice off-site supervision is conducted. 

Job requirements

To be considered for this position, candidates must be in possession of:

• a postgraduate qualification in Finance, Law, Business Management or any other relevant qualification;
• a minimum of eight years of AML/CFT compliance-related working experience in the financial services sector, a supervisory body or a regulatory environment; and
• a minimum of two years of experience of managing teams.